IDEX Co. (NYSE:IEX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of IDEX Co. (NYSE:IEX) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $250.71.

Several equities research analysts recently weighed in on the stock. Robert W. Baird reduced their target price on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Citigroup increased their target price on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Oppenheimer increased their price target on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st.

Institutional Trading of IDEX

Several hedge funds have recently modified their holdings of the company. First Hawaiian Bank grew its stake in shares of IDEX by 2.2% during the second quarter. First Hawaiian Bank now owns 7,410 shares of the industrial products company’s stock valued at $1,491,000 after purchasing an additional 162 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of IDEX by 38.6% during the first quarter. EverSource Wealth Advisors LLC now owns 287 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 80 shares during the last quarter. SG Capital Management LLC bought a new stake in shares of IDEX during the first quarter valued at approximately $10,860,000. DekaBank Deutsche Girozentrale grew its stake in shares of IDEX by 1.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 103,147 shares of the industrial products company’s stock valued at $25,013,000 after purchasing an additional 1,763 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of IDEX by 301.3% during the first quarter. Cetera Investment Advisers now owns 6,902 shares of the industrial products company’s stock valued at $1,684,000 after purchasing an additional 5,182 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Trading Up 0.3 %

Shares of NYSE:IEX opened at $196.41 on Wednesday. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. The firm has a fifty day moving average price of $211.78 and a 200 day moving average price of $221.06. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The stock has a market capitalization of $14.87 billion, a PE ratio of 25.84, a P/E/G ratio of 2.02 and a beta of 0.96.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The business had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. During the same quarter last year, the company earned $2.09 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. Analysts expect that IDEX will post 8.31 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, July 12th. IDEX’s payout ratio is 36.32%.

About IDEX

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.